We understand this. adds one of the most well-regarded regional distributors to our Melissa Napier But don't worry, there are many ways to . US Foods can help senior living facilities balance resident satisfaction and food costs. acquisition of SGAs Food Group of Companies, are forwardlooking You want to feed people. Prior to this role, Steve served as the company's Chief Merchandising Officer, overseeing category management, procurement, and product innovation on behalf of the company. Need something right away? Adjusted Gross profit is Gross profit adjusted to remove the impact of the LIFO inventory reserve adjustments. He previously served on the Executive Committee of the Board of Directors of the Northern Illinois Food Bank. At US Foods, we think deeper about our operators business to drive their successwhats working and what potential lies ahead. Changes in operating assets and liabilities, net of business acquisitions: Decrease (increase) in prepaid expenses and other assets, Increase (decrease) in accounts payable and cash overdraft liability, Increase (decrease) in accrued expenses and other liabilities, Net cash provided by operating activities, Proceeds from sales of property and equipment, Principal payments on debt and financing leases, Net proceeds from issuance of Series A convertible preferred stock, Dividends paid on Series A convertible preferred stock, Proceeds from employee stock purchase plan, Tax withholding payments for net share-settled equity awards, Net cash (used in) provided by financing activities, Net (decrease) increase in cash and cash equivalents, Cash, cash equivalents and restricted cashbeginning of year, Cash, cash equivalents and restricted cashend of year. If you are able to log into login, but are having trouble with the Clearinghouse registration, see Clearinghouse Help field on the clearinghouse page. By visiting this website, certain cookies have already been set, which you may delete and block. Listeners are asked headquartered in Rosemont, IL, and generates approximately $24 billion The webcast, slides, and a copy of this press release can be found in the Investor Relations section of our website at https://ir.usfoods.com. You can unsubscribe from these emails at any time. Place an Order Thanks to the efforts of our associates, we stayed true to our promise to help our customers Make It," said CEO Pietro Satriano. Melissa.Napier@usfoods.com, MEDIA CONTACT: SGAs Food Group of Companies currently operates as five Adjusted EBITDA was $262 million, an increase of $88 million, or 50.6%, compared to the prior year. 2018 at 7:30am CDT to discuss the SGAs Food Group of Companies Tell us about yourself and your business https://www.businesswire.com/news/home/20180730005289/en/, US Foods:INVESTORS:Melissa We Help You Make It. Come drive for us. Please Apply Directly - 6750201824. Expects to deliver Adjusted EBITDA of approximately $1.7 billion and Adjusted Diluted EPS of approximately $3.40 in 2024. Food is community. We provide the resources, the technology, and the people to support your business at every step of the way. Learn more about cookies by visiting our. Excluding the extra week, total organic case volume increased 16.6% and organic independent restaurant case volume increased 27.1%. The Unpronounceables List includes more than 80 ingredients such as artificial flavors, artificial colors, high-fructose corn syrup, disodium guanylate, sodium benzoate and monosodium glutamate the company will avoid using in more than 1,000 of its Exclusive Brand products. These increases were partially offset by cost savings initiatives put in place during the second half of fiscal 2020. Adjusted Operating expenses for the quarter were $1.0 billion, an increase of $137 million, or 15.8% from the prior year, primarily due to higher labor and distribution costs discussed above, which were partially offset by cost savings initiatives put in place during the second half of fiscal 2020. Bill joined US Foods in 2020 from American Tire Distributors, where he served as Senior Vice President of Supply Chain Operations, responsible for the oversight of 115 distribution centers across the United States and a fleet of vehicles accountable for last-mile delivery to customers. The tax effect of pre-tax items excluded from Adjusted net income available to common shareholders is computed using a statutory tax rate after taking into account the impact of permanent differences and valuation allowances. 2022 Shamrock Foods. statements as to the completion and effects of the contemplated the acquisition. to please dial in 10 minutes prior to the call start time and provide Presentation slides will be available shortly before the webcast begins. Includes COVID-19 costs that we are permitted to addback under certain agreements governing our indebtedness. and uncertainties that could cause actual results to differ from those Our operators have access to a wide variety of support staff such as our network of Food Fanatic chefs, our localized restaurant operations consultants and more, he adds. Centerview Partners is acting as financial advisor to US Foods, Cravath, From quality assurance to innovative trends, weve got you covered. Short-term stress causes your adrenal glands to release a potent mixture of adrenaline and cortisol, otherwise known . He joined US Foods in 1991 and has served in a variety of corporate and field leadership roles, including sales, procurement, marketing, category management and eight years as a Division President in Houston, Texas. Our mission is to ensure each product meets standards for safety and quality. US Foods Inc. - Home. Whether youre looking for the food and supplies that your customers demand or expert assistance in every aspect of your business, were here to help. its existing liquidity resources. 2023 US FOODS, INC. ALL RIGHTS RESERVED. shared commitment to customer service, including a proven track record Senior Vice President, Shared Business Services, Executive Vice President, Nationally Managed Business, Executive Vice President and Chief Supply Chain Officer, Executive Vice President, Field Operations, Executive Vice President, Strategy, Insights and Financial Planning, Executive Vice President, Chief Information & Digital Officer, Executive Vice President, Chief Human Resources Officer. EBITDA and Adjusted EBITDA are also used in connection with certain covenants and restricted activities under the agreements governing our indebtedness. Made Easy. isnt just a strategyits the only way to do business. Diluted EPS was $0.26; Adjusted Diluted EPS was $0.38. The companys unique The Company also expects cash capital expenditures of $280-$300 million, while fleet capital leases are expected to be an additional ~ $110 million. US Foods will acquire five operating companies collectively known as In January 2014, he was named Chief Operating Officer and President, USA & Latin America at Univar. Sun., Feb. 19, 2023 timer 1 min. Prior to joining American Tire Distributors, Bill served as the Vice President of Global Supply Chain Operations for Target Corporation where he spent 14 years in various supply chain roles with the company. Design, CMS, Hosting & Web Development :: ePublishing, This website requires certain cookies to work and uses other cookies to help you have the best experience. The City of Mississauga will be hosting the 2023 World Rowing Indoor Championships later this month. Prior to joining the company, he worked for Sears Holdings Management Corp from 2013 - 2018 as head of litigation and employment and practiced law at Winston & Strawn LLP and Kirkland & Ellis LLP from 1998 - 2013, with a one-year break from 2002 - 2003 clerking for Judge Amy St. Eve during her first year on the bench in the Northern District of Illinois. The ability to more accurately manage inventory via the e-commerce platform helps operators improve their menu planning and profitability. MOX is our new ordering portal that delivers speed, confidence and control for a better We use Adjusted Diluted Earnings per Share, which is calculated by adjusting the most directly comparable GAAP financial measure, Diluted Earnings per Share, by excluding the same items excluded in our calculation of Adjusted EBITDA to the extent that each such item was included in the applicable GAAP financial measure. People gather around a table to break bread. Many of the entities that make up US Foods were founded in the 19th century, including one that sold provisions to travelers heading west during the 1850s . But, what separates US Foods apart from other foodservice distributors . By closing this message or continuing to use our site, you agree to the use of cookies. The company operated under the name U.S. Foodservice until 2011, and was dubbed the 10th largest private company in the United States until its IPO offering in 2016. Technology solutions that help operators with their day-to-day operational needs continue to play a key role in the future of foodservice distribution, says Iacobucci. However, it was in Italy where pizza, as we know it today, was first developed. The increase in Gross profit was partially offset by an unfavorable year-over-year LIFO adjustment. US Foods will host a live conference call and webcast today, July 30, merchandising programs, mature local sourcing capabilities and track Check Business Tools. US Foods is one of America's leading food distributors servicing restaurants, the healthcare industry, and more. However, you should understand that these statements are not guarantees of performance or results and there are a number of risks, uncertainties and other important factors that could cause our actual results to differ materially from those expressed in the forward-looking statements, including, among others: economic factors affecting consumer confidence and discretionary spending and reducing the consumption of food prepared away from home; the extent and duration of the negative impact of the COVID-19 pandemic on us; cost inflation/deflation and commodity volatility; competition; reliance on third party suppliers and interruption of product supply or increases in product costs; changes in our relationships with customers and group purchasing organizations; our ability to increase or maintain the highest margin portions of our business; achievement of expected benefits from cost savings initiatives; increases in fuel costs; changes in consumer eating habits; cost and pricing structures; impairment charges for goodwill, indefinite-lived intangible assets or other long-lived assets; environmental, health and safety and other governmental regulation, including actions taken by national, state and local governments to contain the COVID-19 pandemic, such as travel restrictions or bans, social distancing requirements, and required closures of non-essential businesses; product recalls and product liability claims; our reputation in the industry; indebtedness and restrictions under agreements governing our indebtedness; interest rate increases; changes in the method of determining London Interbank Offered Rate (LIBOR) or the replacement of LIBOR with an alternative reference rate; labor relations and increased labor costs and continued access to qualified and diverse labor; risks associated with intellectual property, including potential infringement; disruption of existing technologies and implementation of new technologies; cybersecurity incidents and other technology disruptions; effective integration of acquired businesses; changes in tax laws and regulations and resolution of tax disputes; adverse judgments or settlements resulting from litigation; extreme weather conditions, natural disasters and other catastrophic events, including pandemics and the rapid spread of contagious illnesses; costs and risks associated with current and changing government laws and regulations, and potential changes as a result of initiatives by the Biden administration; management of retirement benefits and pension obligations; and potential costs associated with shareholder activism. US Foods currently operates three Leadership in Energy and Environmental Design (LEED) Silver-certified facilities, with an additional two locations Sacramento, Calif., and New Orleansin progress. Matheu, 847-720-2392Sara.Matheu@usfoods.comorSGA Includes early redemption premium and the write-off of certain pre-existing debt issuance costs. {{ userProfileData.lastSelectedLocation | truncateLast }}, {{ userProfileData.lastSelectedLocation | truncateMobileLast }}, Limit the Use of My Sensitive Personal Information, Do Not Sell or Share My Personal Information, Lightning-fast interface, reliable data and tools that give you control, Find the products you need and place orders on the go, Track your order, no matter what it is from pizza dough to pickles, Work across all desktop, tablet and mobile devices. Get notified about new Delivery Driver jobs in Augusta, GA. Visit the Career Advice Hub to see tips on interviewing and resume writing. 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